Should monetary policy lean against the wind? Simulations based on a DSGE model with an occasionally binding credit constraint
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DOI: 10.1016/j.econmod.2019.09.043
Abstract: Abstract In this research paper, we extend the model constructed by Gambacorta and Signoretti (2014) by introducing an occasionally binding credit constraint based on a penalty function approach in line with Brzoza-Brzezina, Kolasa, and Makarski… read more here.
Keywords: credit constraint; model; occasionally binding; binding credit ... See more keywords